Identity change

Detail	Value
Type	identity_change
Category	identity
Ledger treatment	Identity change

#What we detect

A matching StockMerger record whose note exchanges one listing of a company for another listing of the same company, at a ratio that reconciles exactly. For example: "Stock Merger 0.5 NYSE:AZN for 1 NASDAQ:AZN (ADR)". A NameChange record is recognised and not booked: a rename has no real instance.

#Evidence required

• A standing record matching both multipliers and the activation time.
• An issuer note in the form Stock Merger <qty> <venue>:<ticker> for <qty> <venue>:<ticker>, with the same ticker on both sides.
• The note ratio equals the published unit ratio, and M_old × ratio equals M_new within 4ε.

#When evidence is missing or conflicts

• No note, or a note naming a different company: recognised as a stock merger, and not booked.
• A ratio that does not reconcile: unclassified.
• NameChange: recognised, and not booked.

#How it is booked

Units ×ratio, all cost basis carried over; the protected floor scales by the ratio. Zero income. The worker writes the position lineage: the identity held before, the identity after, and a link whose successor carries exactly all basis. GET /v2/instruments/{mint}/lineage traces it.

#In practice

AZNx: NASDAQ ADR → NYSE ordinary share, 2:1. Labelled StockMerger by the issuer and "ReverseSplit" by multiplier history.

#In the API

• v2: type: "identity_change", treatment: "identity", with validation, the lifecycle and the evidence on GET /v2/actions/{id}.
• v1: shown as unclassified_adjustment, with the treatment stated in reasons and headline.